QCP Capital: U.S. employment data may face significant downward revision, market focuses on Powell's speech at Jackson Hole
QCP Capital released a new report stating that Wall Street rumors suggest U.S. employment data may face a downward revision of at least 600,000 people, prompting the market to reassess the Federal Reserve's policy stance. Previously, the Fed had postponed its rate cut plan based on strong job market and economic performance. Industry insiders predict that Fed Chairman Powell will express his views on this issue at the upcoming annual Jackson Hole meeting. However, with one month left until the September Fed meeting, Powell might not make any clear commitments. If employment data is significantly revised downwards or if Powell takes a dovish stance, it could reverse recent stock market gains and push Bitcoin and Ethereum below their support levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ahead of the UK interest rate decision, the central bank governor downplays inflation threat: secondary effects remain "relatively moderate".
With the Bank of England's interest rate decision approaching on September 17, Governor Bailey stated at the Jackson Hole Symposium that the labor market remains persistently weak and that second-round inflation effects are moderate, saying, "We can continue to observe this situation." At the symposium, MPC member Mann, who supported a rate hike in July, warned that the spillover effects from the US and the rising dominance of the US dollar pose potential shocks to the transmission of the UK's monetary policy. The market has already priced in a 25 basis point rate hike by the UK this year, with bets on another hike next spring.
Asana CEO Daniel Mark Rogers disposes of 1,655 common shares worth $16,550
HMOBI Participações calls extraordinary shareholders meeting
Uniswap sweeps short liquidations near $5 — What next?
Crypto prices
More
